To qualify as a withholding MIT, FH-REIT cannot have a non-Australian resident having a stake of 10% or higher in FH-REIT at any time during the income year.
The loss of FHT Australia Trust’s (FHTAT) managed investment trust (MIT) status was beyond the control of Frasers Hospitality Trust (SGX:ACV
) (FHT)’s managers. The managers of FHT made the announcement as part of its response to questions from the Securities Investors Association (Singapore) or SIAS. FHTAT is the wholly-owned subsidiary of FH-REIT. FHT is made up of Frasers Hospitality Real Estate Investment Trust (FH-REIT) and Frasers Hospitality Business Trust (FH-BT).
The responses came after FHT announced that FHTAT lost its MIT status on Oct 9.
